BUCHAREST (Romania), June 4 (SeeNews) - Fitch Ratings said that it has affirmed the long-term issuer default rating (IDR) of Romanian short-term mobility s
KUALA LUMPUR (June 3): Fitch Ratings has downgraded Serba Dinamik Holdings Bhd s Long-Term Issuer Default Rating to B- from BB- , following questions raised over the quality of its earnings by its auditor. The rating agency has also downgraded Serba Dinamik s senior unsecured sukuk due 2022 and 2025 to B- from BB- , with a Recovery Rating of RR4 .
The ratings have been placed on Rating Watch Negative (RWN), Fitch said in a statement. The downgrade reflects the pressure on Serba Dinamik s liquidity and the elevated refinancing risk from its short-term debt maturities in 2021 and its US$222 million sukuk due May 2022, Fitch said.
“We believe the company s access to debt funding has been compromised after its auditor, KPMG, requested an independent review when a 2020 statutory audit raised multiple questions over the company s operations. The RWN takes into account the plans for the independent review and the uncertainty over the completion of the review, and the limited
Fitch Revises Outlook on JSW Steel to Positive from Negative; Affirms at BB- equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Fitch upgrades senior unsecured rating of Bulgaria s BEH to BB Fitch (Author: fitchratings.com) License: all rights reserved.
SOFIA (Bulgaria), May 10 (SeeNews) - Fitch Ratings said on Monday that it has upgraded Bulgarian Energy Holding s (BEH) senior unsecured rating to BB from BB- and assigned a Recovery Rating of RR4 to this debt class.
Fitch also affirmed BEH s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at BB with a positive outlook, the ratings agency said in a statement.
BEH s ratings have also been removed from Under Criteria Observation (UCO) reflecting the application of Fitch s updated Corporates Recovery Ratings and Instrument Ratings (CRR&IR) criteria. The company s ratings were placed on UCO following the publication of the updated criteria on April 9.